- A Perth-based startup with an app promising cheap international money transfers has been put into liquidation.
- The Federal Court was told that Bux Global raised at least $65 million.
- Evidence was given to the court that cash raised went to fund the private expenses of those associated with the startup and that the app didnt do what it was meant to.
Bux Global, a fintech with an app promising to disrupt the way multi-billion dollar international payments are made, raised tens of millions of dollars from investors, some of them reportedly high profile sportspeople, before going under.
A Federal Court judge, who appointed Ferrier Hodgsons Martin Jones and Andrew Smith as liquidators, says investors put at least $65…
Read the full article at: https://www.businessinsider.com.au/bux-global-startup-liquidation-perth-fintech-2018-10